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Taxes

29/10/2020 Client: jwilson1228 Deadline: 10 Days

The Gig Economy



Virginia Zielinski is a CPA and an alumni from Walsh College where she has earned two master degrees: a MAC and an MST.



Virginia has been employed for the past 11 years as the staff accountant at St. Mary Parish in Milford.



She has also worked for four tax seasons at R.J. Miller, PC in Highland where she discovered her professional interest in taxation. Virginia particularly enjoys working with tax clients and educating them about their unique tax situations



Outside of work, Virginia loves music, theater, gardening and especially traveling with her husband and three daughters. Her favorite quote is: "The quality of your habits, is the quality of your life." (Rachel Hollis)






History of the Gig Economy

1915 - "gigs" - coined by jazz musicians



1940's - Kelly Services



1995 - 10% of Americans work in alternate employment



2008 - Airbnb created - first app



2010 - Uber created - use of smartphone



If you find this interesting, you may want to check out this really interesting infographic published by Business 2 Community called The History and Future of the Gig Economy. Make sure to enlarge it so you don't miss any of the good stuff.







New Gig Old Rules

Four Sectors of a Gig Economy

Transportation services - ridesharing, delivering, and moving services (Uber, Lyft, DoorDash, Grubhub)



Non-transport service work - repair services, dog walking (TaskRabbit, Wag!)



Selling activities - novelty items, crafts (Etsy, Craigslist)



Leasing services - short-term rentals, home sharing, and renting parking spaces (Airbnb, VRBO)





Ideas for Reform

The existing tax system works but there are complexities.

There has been a call for tax reform.

There is a need for education as well.

A multi-faceted approach will help ensure a dynamic gig economy.




Web: Improving-the-Federal-Tax-System-for-Gig-Economy-Participants-PDF.pdf


Web: Article: Gig Economy Tax Issues 


Click Improving-the-Federal-Tax-System-for-Gig-Economy-Participants-PDF.pdf link to view the file.




IRS--- https://www.irs.gov/businesses/gig-economy-tax-center

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